All applicants for licenses and all holders of city licenses must be in compliance with all city, state and federal regulations, codes and ordinances, and may not be delinquent in payment on any indebtedness, fines or fees owed to the city. Failure to comply with this section shall be grounds for denying a license and/or grounds for revoking an existing license. Once an applicant has come into compliance with this section after denial or revocation, such applicant may reapply for the license. (2003 Code § 5-01-07)